Research

At B. Riley, our research process is an interactive one where we perform extensive due diligence on companies until the analyst develops the knowledge base and understanding of the company and the industry to make a recommendation. Our analysts continuously monitor industry developments and communicate with the management, competitors, suppliers and customers of the companies we follow, regularly communicating our findings through Research Updates and daily Morning Notes.

While we do not necessarily publish research on all of the companies we review, the knowledge base and understanding of many of our monitored companies parallels that of our covered companies. We actively cover over 100 companies and monitor an additional 100. Our analysts cover small to mid-cap companies that are under-followed or misunderstood by Wall Street. We believe that the pricing of small cap equities is frequently inefficient, and therefore provides the greatest potential rewards to diligent security analysis.

This Week's Research

  • 05/22/15 Update LGF ($33.53, Buy; $40.00 PT): Reports Q4 Results; Optimistic on Content Monetization Opportunities and Potential of Strategic Relationships Not Reflected…
  • 05/22/15 Morning Note B. Riley & Co. Morning Notes: ABTL, BBY, COTY, KFX, LGF, MRVL, SMTC
  • 05/22/15 Update SMTC ($23.51, Neutral; $26.00 PT): F2Q16 Has Modest Risk As Transition Yr Unfolds; Retain Neutral, $26.0 PT
  • 05/22/15 Update BBY ($35.11, Buy; $47.00 PT): Margin Expansion Likely In 2H Following Solid 1Q And Improving Comps
  • 05/22/15 Update KFX ($11.01, Neutral; $11.00 PT): Lexmark Completes Acquisition of Kofax; Discontinuing Coverage
  • 05/22/15 Update ABTL ($16.00 AH, Buy; $20.50 PT): Acquires Dealix/Autotegrity for $25MM in Cash to Grow Scale; 16% PF EPS Accretion Expected in 2015; Increasing Estimates…
  • 05/22/15 Update MRVL ($14.37, Buy; $17.00 PT): Lower Outlook Spring Loads Model For Stronger 2H Growth; PT Is $17.00
  • 05/21/15 Update AEO ($16.61, Buy; $21.00 PT): Strong comps/reduced markdowns/margin improvement, driven by continued merch. improvement; expect further margin recovery;…
  • 05/21/15 Update TIVO ($10.70, Buy; $20.00 PT): Expect In-Line Q1 Results; Could Push Towards OTA Opportunity After Aereo Purchase; Positive Risk/Reward on Sub Growth/Upside…
  • 05/21/15 Update TRUE ($13.99, Sell; $10.00 PT): Lawsuit by CA Dealer Association Could be an Indication of Bigger Issues
  • 05/21/15 Morning Note Morning Notes: ABTL, AEO, CROX, EGHT, MRVL, SPLS, TIVO, TRUE; B. Riley Conference Recap
  • 05/21/15 Update 16th Annual B. Riley & Co. Investor Conference Highlights & Notes
  • 05/21/15 Update EGHT ($8.51, Buy; $10.25 PT): EGHT Caps FY ’15 with Strong Q4; Enterprise Sales Investments Hold Profits Growth in Check in FY ’16; 50%+ Earnings…
  • 05/20/15 Initiation of Coverage CROX ($15.87, Neutral; $16.00 PT): We are Initiating Coverage with a Neutral Rating and a $16 PT
  • 05/20/15 Update SPLS ($16.14, Neutral; $16.00 PT): Despite Revenue Headwinds, Margins Showing Signs Of Improvement With Upside Potential As Comparisons Ease; Raising…
  • 05/20/15 Morning Note Morning Notes: ADI, CHKE, EGHT, FTD, FLWS, GUID, IPAR, JAKK, LGF, LOV, NTRI, P, SSI, SWKS, VSAT, WDFC, YHOO
  • 05/19/15 Update VSAT (B. Riley & Co. Update: $64.64, Buy; $89.00 PT): Investing in Future Disruption with Advanced, High Capacity Density Satellite-enabled Networks
  • 05/19/15 Update SWKS (B. Riley & Co. Update: $103.99, Buy; $120.00 PT): Increasingly Confident In 2H15 And 2016 China LTE Demand; Retain Buy
  • 05/19/15 Earnings Preview LGF (B. Riley & Co. Update: $32.10, Buy; $40.00 PT): Lowering Q4 Estimates on Final Box Office Results; Remain Positive on Growth Opportunities with…
  • 05/19/15 Update GUID (B. Riley & Co. Update: $6.44, Buy; $9.50 PT): CEIC 2015 Takeaways; Reiterate Buy Rating and $9.50 Price Target
  • 05/19/15 Earnings Preview EGHT (B. Riley & Co. Update: $8.60, Buy; $10.25 PT): Look for EGHT to Cap FY ’15 with Strong Q4; Projecting $0.22 EPS in FY ’16 and 50% Growth…
  • 05/19/15 Update ADI (B. Riley & Co. Update: $63.45, Buy; $73.00 PT): Delivers As Expected, Growth Outlook Improves Further; Buy, PT $73.00
  • 05/19/15 Update B. Riley Conference Highlights: FLWS, FTD, IPAR, JAKK, NTRI, WDFC
  • 05/19/15 Update SSI (B. Riley & Co. Update: $16.50, Buy; $20.00 PT): Q1 top line miss; tough 2H comparisons and challenging backdrop, but beaten down stock has a…
  • 05/19/15 Initiation of Coverage LOV ($2.92, Buy; $5.00 PT): Initiating Coverage with a Buy Rating and a $5.00 Price Target
  • 05/19/15 Update BBY ($35.09, Buy; $47.00 PT): 1Q Disruptions Should Be Temporary, See Upside Through Year
  • 05/19/15 Morning Note B. Riley & Co. Morning Notes: AEO, ADI, BBY, CKEC, FLWS, FTD, LRCX, SPLS, VSAT, Consumer Products Weekly
  • 05/19/15 Update AEO ($16.00, Buy; $20.00 PT): Q1 Earnings Preview: leading position among 3 “A’s”, underpinned by a relatively strong merchandise assortment;…
  • 05/19/15 Update VSAT ($61.76, Buy; $89.00 PT): Earnings Preview: Investing in Future Disruption; VS-3, VS-2, JetBlue, and Amazon Prime Too
  • 05/18/15 Update B. Riley & Co. Industry Update: Household/Personal Care Weekly Highlights (AMZN, EL, FLWS, FTD, IPAR, PBH, SBH)
  • 05/18/15 Update ADI ($63.45, Buy; $66.00 PT): Earnings Preview: Street Estimates Achievable, But Forceful Mix Variation Seems Likely
  • 05/18/15 Update SPLS ($16.40, Neutral; $14.00 PT): Earnings Preview: Sales Still Soft But Margins Should Provide Offset
  • 05/17/15 Morning Note Morning Notes: DCO, HGG, III, RELY, VOXX
  • 05/17/15 Update RELY ($9.64, Buy; $16.00 PT): RELY Q1 Results Beat on Revenue and EBITDA; FY ’15 Looks Well Positioned with Significant Cost Cutting Opportunities
  • 05/17/15 Update HGG ($4.60, Neutral; $5.00 PT): Sales Trends Reverse Course, Recovery Looking More Difficult
  • 05/17/15 Update VOXX ($8.58, Neutral; $8.00 PT): Lower Operating Expenses Aren’t Fully What They Seem
  • 05/17/15 Update III ($4.07, Buy; $6.00 PT): Reports Q1 Results Above Estimates; Reiterates FY ’15 Guidance; FY ’15/’16 Estimates In-Tact; Maintaining $6.00…
  • 05/17/15 Update DCO ($25.01, Buy; $37.50 PT): Military to Commercial Transition Deeper than Expected in 1H ‘15; Expect Return to Growth Path in 2H ‘15